Austrian Companies Rush to Meet EU's CSRD, Despite Challenges
Austrian companies are already feeling the impact of the EU's Corporate Sustainability Reporting Directive (CSRD), with 72% affected before its official introduction. While many are focusing on improving data quality and reporting according to European standards, uncertainty about legal requirements persists.
Four out of five companies (80%) are prioritising better data quality, but only 52% are currently reporting according to the European Sustainability Reporting Standards (ESRS). The high complexity of these standards is a significant hurdle for 60% of companies. Despite this, over half of larger companies have already published a sustainability report (51%).
Most companies see the greatest potential for improvement in implementing efficient data systems (74%). However, only 8% of larger companies have taken minimal sustainability activities so far. Two-thirds struggle with a lack of relevant data when creating sustainability reports (67%).
Many companies are waiting for extended deadlines to integrate ESG criteria into their business processes and decision-making structures (57%). The lack of a legal obligation is the primary reason companies have not yet prepared a sustainability report, with many awaiting clearer legal frameworks from the CSRD's full implementation in 2025.
While Austrian companies are actively preparing for the CSRD, challenges such as data complexity and lack of clear legal frameworks persist. Despite this, many are committed to improving their sustainability reporting and integrating ESG criteria into their operations.
